The West African Gas Pipeline Company, (WAPCo), has threatened to cut gas supply to the Volta River Authority in the next 48 hours if it fails to honor an outstanding debt of 103 million dollars owed as of August 2014.
WAPCo says it is running out of patience over the debts which seeks to threaten the existence of the company.
A crisis meeting between the two firms on Tuesday and Wednesday morning ended in a deadlock.
Starr News is reliably informed that the firm is going ahead with its threat despite intervention from President Mahama.
Managing Director of WAPCo Walter Perez stated at a press conference Wednesday that the debts must be paid by Friday or they would be left with no choice than to cut gas supply.
“WAPCo is contractually obligated to curtail deliveries to VRA as of zero hours on Friday.
“We find it unfortunate that the VRA debt situation has been allowed to deteriorate to the point where it now jeopardizes WAPCo’s very existence as a company,” Mr. Perez said.
Power Crises to worsen
If Ghana fails to settle the debt by Friday as stated by Mr. Perez, Ghanaians must brace themselves for more power cuts.
Seven thermal plants including Sunon Asogli, TAPCO, TICO, T3, TT1PP, TT2PP and MRP would be affected and will have to shut down, significantly affecting power generation.